Marketing Management (MKT600)

Anna Zarkada
BSc (AUEB), MSc (UMIST), PhD (QUT)
Assistant Professor
Department of Business Administration
Athens University of Economics and Business
email: azarkada@aueb.gr

MBA
Learning Objectives - I
 Knowledge and Understanding
 concepts, paradigms and processes of marketing
 strategic marketing theories, models and
concepts
 organisation-wide nature of marketing
 strategic marketing planning process and
techniques in the context of
 globalisation
 information technology.
 trends
Learning Objectives - II
 Cognitive and Intellectual skills
 Think critically
 Gather, analyse and utilize research and marketing information
 Practical/Professional Skills
 Research, interpret and evaluate current marketing theories
and apply in an organisational setting
 Be aware of the importance of marketing in creating customer
and shareholder value
 Be aware of how exogenous factors influence marketing strategy
 Key Transferable Skills
 Operate effectively when critically evaluating knowledge and
applying it to marketing issues
 Demonstrate the ability to influence key decision-makers
 Apply marketing theory in an organisational setting
Methods for achieving objectives
individual responsibilities
 study of theory
 examination of business practice
 participation in learning tasks
group processes
 exchange of opinions
 sharing of experiences
necessary attitudes
 creativity
 curiosity
 willingness to communicate
Course perspective:
student-centred, self-directed learning
Your role My role

Adult learner Facilitator

 thorough preparation  for meeting
 applying critical and creative  personal and
thinking  career development objectives

 working consistently  advisor

 basic content provider
 gatekeeper
 course flexibility
 the profession
 Key Questions
 Why is marketing important?

 What is the scope of marketing?

 What are some fundamental marketing concepts?

 How is marketing management changing?

Structure of Flows in a Modern Exchange Economy

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-8

 Exchange is the focus

 Exchanges are carried out by business

firms, and also by non business
organisations and even individuals.
 Four conditions must exist for an
exchange to be able to occur:
 Two or more people or organisations must
be involved
 The parties must be involved voluntarily
 Each party must have something of value
to exchange, and the parties must believe
they will each benefit from the exchange
 The parties must communicate with each
other
A Simple Marketing System

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-10

 What is Marketing?
Marketing is an
• organizational function and
• a set of processes for
• creating,
• communicating, and
• delivering value to customers and
• for managing customer relationships
• in ways that benefit
• the organization and
• its stakeholders.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-11
What is Marketing Management?
Marketing management is the
art and science
• of choosing target markets and
• getting,
• keeping, and
• growing
• customers
through
• creating,
• delivering, and
• communicating
superior customer value.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-12
 the PRODUCT concept
A set of basic real (tangible) and symbolic
(intangible) attributes assembled in an
identifiable form
which can be
• offered
• obtained and
• consumed
in order to satisfy wants or/and needs
• object
• size
• service
• price
• place
• appearance
• person
• performance ...
14 • idea
What is Marketed?
Goods

Services
Events & Experiences

Persons

Places & Properties

Organizations
Information
Ideas
the BRAND concept
 Interbrand Top 10 brands 2012
tangible Product – Service continuum intangible

1. Coca-Cola
2. Apple (+129%)
3. IBM
4. Google
5. Microsoft
6. GE
7. McDonald's
8. Intel
9. Samsung
10. Toyota
 Brand
A name and/or a mark intended
to identify the product of one
seller or group of sellers and
differentiate it from competing
products
• a brand name
&/or A set of tangible and intangible
• a brandmark attributes
&/or
• a trademark A means of want satisfaction
 I want it, I need it…
Five Types of Needs
1. Stated needs
“I want an inexpensive car”
2. Real needs
‘It’s not only the price, I want low running costs as well’
3. Unstated needs
he’s polite, he listens to me, I trust him
4. Delight needs
he’s giving me the GPS for free!!!!
5. Secret needs
wait till my neighbors see this car!

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-19

Demand States: AZ case study
Negative Nonexistent Latent
BP TV EBR/tablet

Declining Irregular
7 videonet 30+ sunscreen

Full Overfull Unwholesome

moisturizer DSL Rothmans
Development of the Marketing Concept

production the mousetrap

Fridges to the
selling Eskimos

Marketing

Customer
Relationship
Marketing &
Corporate Social
SERVICE DOMINANT
Responsibility LOGIC
22
 Personal branding
Hottest trends
Luxury brands

Lovemarks
Brand
communities
 Holistic Marketing Dimensions

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-24

The marketplace isn’t what it used to be…
Information technology

Globalization

Deregulation

Privatization

Competition

Convergence

Consumer resistance

Retail transformation
based on 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-25
21st Century 4Ρs

 Personalization = Amazon.com
 Participation = Nike ID / prosumerism-
MLM
 Peer-to-Peer
 Predictive modeling = CRM /big data /
data visualization / qualitative data
visualization
Qualitative data visualization

FB comments on IKEA UK page - horse meat scandal

Three V’s Approach to Marketing
Define the value segment -
WHO

Define the value proposition -

WHAT

Define the value network –

WHERE, HOW

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-29

A Holistic Marketing Framework

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-30

Levels of a Marketing Plan
 Strategic  Tactical
 Target marketing decisions  Product features
 Value proposition  Promotion
 Analysis of marketing opportunities  Merchandising
 Pricing
 Sales channels
 Service

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-31

The Business Unit Strategic Planning Process
Product
Price
Promotion
information Specific Place
Measurable
Actionable People
Realistic Processes
Timed

Ansoff matrix
Porter’s generic strategies

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-32

Ansoff’s Product-Market Expansion Grid

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-33

Porter’s Generic Strategies

Overall Cost Leadership

Differentiation

Focus

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 2-34

 Examples of
organizational strategies
 Based on competitive advantage
 Cost leadership
 Differentiation
 Based on value disciplines – you cannot be all things to all people,
hence you must find the unique value that you alone can deliver to a given market
 operational excellence – low price and/or hassle free service
 product leadership
 customer intimacy
to be discussed in class next time we meet
internet exercise
 visit the corporate web-sites
 look for the mission statement
 look for claims of
 strengths (investors section) and
 distinctive competencies (customer sections)
 link them to
 product lines IBM
 business units
CISCO
MICROSOFT